Kyocera Corp. said Wednesday it has agreed to pay $331.5 million to two U.S. companies to settle a long-standing dispute over a hard-disk deal.
Kyocera, a major manufacturer of ceramics and electronic devices, will withdraw an appeal it filed with the U.S. Supreme Court.
This appeal was filed after a U.S. court of appeals on Aug. 30 upheld a lower court ruling ordering Kyocera to pay $453 million in damages to LaPine Technology Corp. and Prudential-Bache Trade Services Inc.
Kyocera declined to reveal other details of the settlement, citing contractual reasons.
It said the payment has already been included in litigation reserves and will not affect corporate earnings.
The dispute with the Prudential Financial Inc. units stemmed from a mid-1980s deal concerning the reconstruction of LaPine Technology, to which Kyocera had supplied hard-disk drives.